My Forex Prediction using Advanced GET - page 100
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Looking for a short entry.
A possible short trade with good risk reward.
Thanks for the encouragement kenneth. It's a shame we won't see you online that much.
Baslmch, Almost all markets seem to be in a range this morning. So I think it is best to wait and see. I agree with you EU short looks good once it breaks clear of the range.
For my friend aznet
My Trade on AUDJPY and USDJPY - Position Trade
On USDJPY case, i see it can easily go to 99.00 area whithin 4-5 weeks if we break strong resistance around 93.40-50 area. We'll see.
You are correct, GY, to pinpoint the Entry level for USDJPY is when the Resistance Level of around 93.40 is penetrated decisively. That is when we can enter again our order for USDJPY. And what would you think the Fibonacci Ratio is at around that level for Entry??
Meanwhile, my position trade on AUDJPY is now showing a paper gain of 84 pips whilst USDJPY is only showing 6 pips up making a total paper gain of 90 pips against 60 pips on New Year Eve - meaning today I have gained another 30 pips but the day is not over yet.
Joe
Market Ranging This Morning
Almost all markets seem to be in a range this morning. So I think it is best to wait and see. I agree with you EU short looks good once it breaks clear of the range.
Indeed even this morning, most currency pairs seem to be ranging. Not much excitement.
The only pair that seems to be moving is GBPJPY. Although GET shows it is in Wave 3 Up, looking at the MT4 4 hour chart, it is displaying a DOUBLE TOP and is likely to retrace. I am monitoring this closely to do a SHORT.
Meanwhile I am still keeping my order for AUDJPY which also seems to be retracing a bit. For USDJPY I had closed this trade yesterday at the first signs of reversal and made a small loss - follow the Exit rules ie when you see strong reversal signs, get out.
Joe
My Trade Today - SHORT GBPJPY
Indeed even this morning, most currency pairs seem to be ranging. Not much excitement.
The only pair that seems to be moving is GBPJPY. Although GET shows it is in Wave 3 Up, looking at the MT4 4 hour chart, it is displaying a DOUBLE TOP and is likely to retrace. I am monitoring this closely to do a SHORT.
Today at Gmt 05:48 I short this pair at 148.21, and at time of posting is showing a paper gain of 26 pips.
Joe
My Trade Today - Short GBPJPY
Today at Gmt 05:48 I short this pair at 148.21, and at time of posting is showing a paper gain of 26 pips. Joe
The above SHORT trade was closed at Gmt 10:23 at 147.72 making a gain of 49 pips.
The Fibonacci level was around 50% when I short the pair and I closed it around 61.8%. The reason is that: Based on GET chart, it was in Wave 3 Up. So I am playing a Retracement trade. At the most I expect support to come in at around 61.8%; therefore I closed the trade. In any case, I managed to achieve my intra day TP of 30-60 pips.
Attached is a MT4 chart using 1 hour displaying (1) a Double Top pattern, (2) the Fibonacci Retracement levels. Normally I would wait for prices to break out from a particular level first. When I saw the selling was strong, I went ahead to short before it penetrated the 50% level.
Joe
My Position Trade on AUDJPY on New Year Eve
Yesterday at the first signs of a strong reversal, I quickly closed this trade at 83.90 making a gain of 63 pips. (At one stage, the paper gain was above 100 pips but then gave back around 40 pips.)
And together with the gain of 49 pips on GBPJPY, I made 112 pips.
Joe
My Trade on USDCHF Today
Last night before going to bed, I bought USDCHF at 1.0315 at Gmt 13:17 and at time of posting, the paper gain is 31 pips.
GET was displaying it was in Wave 3 Up in 4 alternate counts and attached herewith is the MT4 chart showing I made the trade when price BROKE through the FR of 23.6%.
Good Trading
Joe